Posted on 04/20/2018 10:40:04 AM PDT by Oldeconomybuyer
With oil prices hitting $75 per barrel, it was meant to be one of the smoothest meetings OPEC has had in recent years.
The night before the meeting, the ministers gathered in Jeddah celebrated with a traditional Saudi sword dance - just as U.S. President Donald Trump had done when he visited Saudi Arabia last May.
Little did they know that Trump was about to spoil their post-meeting party when he tweeted that oil prices had rallied too far.
“Looks like OPEC is at it again. With record amounts of oil all over the place, including the fully loaded ships at sea. Oil prices are artificially Very High! No good and will not be accepted!” Trump said on Twitter.
(Excerpt) Read more at reuters.com ...
Gotta love that guy! :)
OPEC(Saudi) in recent years has gone against Republican presidents with higher prices.
During Clinton’s Monica crisis oil prices plunged, and when Obama came along in 2008 oil prices skyrocketed.
Trump knows the OPEC(Saudi) game and is fighting against it.
It would seem that they've either succeeded in so doing or that worldwide demand is higher now that it was when they started their scheme.
I can't see how a tweet from DJT,by itself,could affect worldwide prices.
and about the American production??
How far away is it when the US produces more than needed??
Or is it just a shell game to prop up the global producers with American dollars??
Have to also consider that Venezuela’s production is now almost 100% sidelined by the Socialist chaos in that country. That number is significant.
The difference between President Trump and Bush and Clinton and Obama are the ladder 3 personally benefited from money such as the Clinton Foundation Millions from the Saturday. Nobody made president Trump nobody can tear down president Trump and therefore when he says something it is all about doing what’s right for the American people that’s us. Has he ever said anything that did not come to fruition no they will be kissing his butt in no time flat. Let’s see what he does they will be in a world of hurt very soon. Maybe they should ask rocketboy how it is to act stupid.
Here in Aiken County, SC, the gasoline retailers start raising prices about two weeks before the Masters golf tournament in Augusta, GA which is right across the Savannah River from here.
This year prices have hit $2.50/gallon give or take a couple of cents.
Every year the retailers start lowering prices about a week after all the tourists visiting for the Masters have left. But not this year. Prices are still sky high. It’s like the retailers have forgotten the Masters is over with.
Pardon me for feeling gouged.
I can’t see how a tweet from DJT,by itself,could affect worldwide prices.
...
Come on I know you are smarter than that. You know it is what goes on behind the scenes that he does moving the chess pieces on the board and puts tremendous pressure on people and he doesn’t say things he doesn’t deliver on. I think you are better than that.
I’m rolling to work, looking at the price of gas, and wondering if 45’s got the bandwidth.
I check the nets, and lo and behold.
Take the cuffs off the shalers and let’s start exporting!
Maduro in Venezuela likes $75/bbl oil.
Surely this will be enough to feed his country. /s
“This year prices have hit $2.50/gallon give or take a couple of cents.”
“Pardon me for feeling gouged”
Puhlease..:because of our unfortunate proximity to california, Reno’s gas prices have pretty much not been below 3 bucks since Bush 41
>>>With record amounts of oil all over the place, including the fully loaded ships at sea. Oil prices are artificially Very High!
But the world is not currently drowning in a glut of oil. After years of excess supply, demand and supply are roughly in balance.
One of the reasons prices are high is because of concerns around Iran and it’s ability to export if the President scraps the agreement.
43, not 41
Typically, socialists sh|thole countries require almost $200/barrel.
> How far away is it when the US produces more than needed??
When the US produces more than it consumes.
Tremendous pressure? OK,that's possible.Perhaps you're speaking of pressure that results in worldwide production (because,as we know,oil is a truly worldwide market) increasing.Or perhaps it's pressure that results in worldwide demand decreasing.Or were you thinking of another kind of pressure? If so please specify.
Typically, socialists sh|thole countries
= = = = = = = = = =
TUT TUT!!!!
One ‘can’t’ say sh!thole countries UNLESS its citizens want to come here and freeload.
THEN one can call it a sh!thole country.
You know it is what goes on behind the scenes that he does moving the chess pieces on the board and puts tremendous pressure on people...
Tremendous pressure? OK,that’s possible.Perhaps you’re speaking of pressure that results in worldwide production (because,as we know,oil is a truly worldwide market) increasing.Or perhaps it’s pressure that results in worldwide demand decreasing.Or were you thinking of another kind of pressure? If so please specify.
///////
This is not real supply and demand; it is manipulated. I hope you don’t think real supply and demand, free market economy goes on with OPEC and the players who want PDJT out of there...
Pressure, like how Kim Unh of Norko was stripped of his nuclear warheads and essentially stepped down...that kind of pressure. Believe what you want; I am in Q’s camp who has not been wrong yet. PDJT doesn’t say things he doesn’t think he can do with certainty. On monday, our 2.779 wll be down to 2.59 and so on...watch.
Yes,in my previous post I should have mentioned,yet again,OPEC's manipulation.So my question is how does a tweet from DJT force OPEC (namely,Saudi Arabia) to change their policy regarding *available* supply? Are the tank farms in the Middle East,and elsewhere,any less full than they were before his tweet? Are the hundreds (or thousands) of tankers that were said to be chock full a year or two ago any less full as a result of his tweet?
Yes,I suspect that there are forms of pressure that DJT can apply to the Saudis but tweeting ain't among them.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.